Last year, New York buildings with at least one rent-stabilized apartment sold on average for $203,000 a unit, down 34% since 2019. One of the key reasons for drop in apartment prices in New York is tough rent control. These rules benefit longtime tenants at the expense of newcomers, and they’re an inefficient way to help those who need it most, scholars have found.
US News: Last year, New York buildings with at least one rent-stabilized apartment sold on average for $203,000 a unit, down 34% since 2019. One of the key re
Distress Mounts for Owners of Rent-Stabilized Buildings therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.
It's safe to say that today's economic lending environment has contributed to an enhanced need for creative financing unlike anything seen since the 2008 depression. Commercial real estate (CRE) owners and investors have been seeking out secondary lending sources as banks continue to pull back on lending. That scenario, fueled by continued interest rate hikes by the Federal Reserve, has caused banks to clamp down on CRE underwriting, with many properties, like office buildings, in financial peri